The bullish momentum continues for Ethereum

Ethereum Trying to Break November Highs, While Ripple Lags Again

Posted Wednesday, December 16, 2020 by
Skerdian Meta • 1 min read

Cryptocurrencies have been extremely bullish this year, particularly Bitcoin which just broke above the big round level at $ 20,000 today, which has been the all time high, so new highs for Bitcoin. Many other cryptos have also been surging, although not all.

ETHEREUM is also quite bullish, with moving averages pushing it higher similarly to Bitcoin, particularly the 20 SMA on the daily chart. When the smaller moving averages turn into support, it shows that the buying pressure is very strong. But, Ethereum is still really far from all time highs above $ 1,400.

XRP/USD trading at around $ 0.50

Although, not all cryptocurrencies are bullish like Ethereum and Bitcoin. RIPPLE has been lagging behind the other major altcoins, despite XRP/USD surging higher at the end of November. That surge ended back then and since the last week of November Ripple has been declining, with moving averages pushing it down.

We saw a jump today, but it seems pretty weak and MAs are waiting above to provide resistance on the H4 chart. If Ripple doesn’t climb above the 50 SMA (yellow) on this time-frame chart, then we might try to open a sell forex signal against it, hoping for a continuation of the recent bearish trend.

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